Oil rises over 2% on low US crude draw, delay in OPEC+ output hike; Brent rebounds from 6% drop to hit $73/bbl

Oil rises over 2% on low US crude draw, delay in OPEC+ output hike; Brent rebounds from 6% drop to hit $73/bbl

International crude oil prices rebounded on Wednesday, October 30, rising more than two per cent after data showed US crude and gasoline inventories fell unexpectedly last week and on reports that the Organisation of Petroleum Exporting Countries (OPEC) will likely delay its planned oil output increase. After falling more than six per cent earlier in … Read more

Oil sizzles from 33-month low on Israel-Iran war, Brent up 3% to $74; China demand, US inventories limit gains

Oil sizzles from 33-month low on Israel-Iran war, Brent up 3% to $74; China demand, US inventories limit gains

International crude oil prices climbed three per cent before paring gains on Wednesday, October 2, on worries that the escalating conflict in the Middle East due to the Israel-Iran war could threaten oil supplies from the world’s top-producing region. However, a large build-up in US crude inventories limited gains. Brent futures were last up 84 … Read more